Raveel: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
Raveel
Largest movements
- Receivables within one year +€26,140
up €26,140 (+30.6%), from €85,304 to €111,444
of which Trade receivables: +€19,305
- Cash -€26,028
down €26,028 (-27.8%), from €93,550 to €67,522
mainly Contributions, distributions and other (-€68,708) and Receivables within one year (-€26,140)
- Reserves -€25,835
down €25,835 (-37.6%), from €68,708 to €42,873
- Other debts +€15,188
up €15,188 (+15.2%), from €100,046 to €115,235
- Tax, wage and social debts +€6,855
up €6,855 (+77.7%), from €8,824 to €15,679
- Trade debts +€4,876
up €4,876 (+154%), from €3,171 to €8,047
- Depreciation -€3,353
down €3,353 (-69.9%), from €4,795 to €1,442
- Gross operating margin -€3,194
down €3,194 (-5.0%), from €63,371 to €60,177
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €182,749 | €183,834 | +€1,084 | +0.6% |
| Fixed assets | 21/28 | €3,896 | €4,868 | +€972 | +25.0% |
| Tangible fixed assets | 22/27 | €3,896 | €4,868 | +€972 | +25.0% |
| Land and buildings | 22 | €2,839 | €2,537 | -€302 | -10.6% |
| Plant, machinery and equipment | 23 | €1,056 | €2,331 | +€1,275 | +121% |
| Current assets | 29/58 | €178,854 | €178,966 | +€112 | +0.1% |
| Amounts receivable within one year | 40/41 | €85,304 | €111,444 | +€26,140 | +30.6% |
| Trade receivables | 40 | €1,893 | €21,198 | +€19,305 | +1,020% |
| Other amounts receivable | 41 | €83,411 | €90,246 | +€6,835 | +8.2% |
| Cash at bank and in hand | 54/58 | €93,550 | €67,522 | -€26,028 | -27.8% |
| Total equity and liabilities | 10/49 | €182,749 | €183,834 | +€1,084 | +0.6% |
| Equity | 10/15 | €70,708 | €44,873 | -€25,835 | -36.5% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €68,708 | €42,873 | -€25,835 | -37.6% |
| Distributable reserves | 133 | €68,708 | €42,873 | -€25,835 | -37.6% |
| Amounts payable | 17/49 | €112,041 | €138,961 | +€26,920 | +24.0% |
| Amounts payable within one year | 42/48 | €112,041 | €138,961 | +€26,920 | +24.0% |
| Trade debts | 44 | €3,171 | €8,047 | +€4,876 | +154% |
| Suppliers | 440/4 | €3,171 | €8,047 | +€4,876 | +154% |
| Taxes, remuneration and social security | 45 | €8,824 | €15,679 | +€6,855 | +77.7% |
| Taxes | 450/3 | €8,824 | €15,679 | +€6,855 | +77.7% |
| Other amounts payable | 47/48 | €100,046 | €115,235 | +€15,188 | +15.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,795 | €1,442 | -€3,353 | -69.9% |
| Other operating charges | 640/8 | €1,278 | €1,050 | -€228 | -17.9% |
| Non-recurring operating charges | 66A | €72 | - | -€72 | |
| Gross operating margin | 9900 | €63,371 | €60,177 | -€3,194 | -5.0% |
| Operating profit (loss) | 9901 | €57,226 | €57,686 | +€460 | +0.8% |
| Financial income | 75/76B | €826 | €873 | +€48 | +5.8% |
| Recurring financial income | 75 | €826 | €873 | +€48 | +5.8% |
| Financial charges | 65/66B | €158 | €131 | -€27 | -16.9% |
| Recurring financial charges | 65 | €158 | €131 | -€27 | -16.9% |
| Profit (loss) for the period before taxes | 9903 | €57,894 | €58,428 | +€534 | +0.9% |
| Income taxes | 67/77 | €15,893 | €15,555 | -€338 | -2.1% |
| Profit (loss) for the period | 9904 | €42,001 | €42,873 | +€872 | +2.1% |
| Profit (loss) for the period to be appropriated | 9905 | €42,001 | €42,873 | +€872 | +2.1% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.